A) 5yr
B) 2yr
C) 3yr
D) 4yr
Correct Answer: B
Solution :
Given that \[P=Rs.\,2000,\] \[A=Rs.\,2420,\] \[r=10%\] \[\therefore \] \[2420=2000{{\left( 1+\frac{10}{100} \right)}^{n}}\] \[\Rightarrow \] \[\frac{121}{100}={{\left( \frac{11}{10} \right)}^{n}}\] \[\Rightarrow \] \[{{\left( \frac{11}{10} \right)}^{2}}={{\left( \frac{11}{10} \right)}^{n}}\] \[\Rightarrow \] \[n=2\,yr\]
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